Attribution of shareholders of a listed company

The company posted a quarterly: 2011 quarter achieved sales revenue 8.455 billion yuan, an increase of 122.44%; Attribution of shareholders of a listed company, 1707.24 yuan net use year-on-year rise sharply reduce 232%, annulus. Realize basic earnings per share 0.15 yuan, year-on-year drop 6.5 percent, compared 226% rise sharply.
Conclusion:
First quarter results flat and annulus year-on-year rise sharply 232%. Benefit from marketing deploitation ability enhancement, year-on-year increase sharply in the first quarter earnings growth 122%, annulus, but due to 63% more big business cost growth (year-on-year growth in the first quarter 135%), lead to realize the profit of basic and flat, but rise up 232% period. This year first quarter results basic and the second half of last year aggregate flat.
Secondary resources recycling project examination and approval of the directional seasoned into the final finale. By the end of July 2010, plan to march directional seasoned preplan precious metal recycling business, used for secondary 5 tons of precious metals secondary resources comprehensive recycling industrialization project construction. This project early MBT Sini march this year has been received the notification of acceptance of the China securities regulatory commission, is now waiting for CSRC for approval. The project is expected to put into production, after the completion of the early 2013 each year is expected to increase a company operating income 8.3 billion yuan, the annual average net profit, according to 5990 yuan diluted later equity 0.36 yuan. We think the company relies on technical advantage, raw material advantages and starter advantage, is expected to become a domestic platinum department in the integration of secondary resources recovery metal leader. .. The company industry layout preliminary form. In 2010, the company product, trade and resource three fields achievements. Products in key development of automobile exhaust catalyst, precious metals military materials, precious metals chemicals, catalysts and solar slurry, realize the precious metals and so on the new income substantially increase.
Joint venture established trade in hunan yongxing guiyan resources companies, using "silver city of China" regional and policy advantage, actively develop the silver recycling, trade and analytical business, realize that year profit. Offered Resources established guiyan () resources company, extension dalongkou chain, the construction company secondary resources industrialization platform, precious additionally-issued at present this project examination and approval has entered the final finale. The 2011 company will continue to revolve around the above three blocks, bigger and stronger.
Maintain buying investment rating. According to 2011 platinum, silver and gold for average 35 / $1,450 17 / price per ounce, 2012 respectively 40 / $1,500/1780 per ounce, forecasting the 2011-13 years after diluted EPS of $1.67 0.MBT Fumba ,

70/1.02 / diluted 0.91 / before ($2.17 1.33 / expected future three years), compound growth of above 60%. The company as precious metals processing field, the leading enterprise in the next three years is expected to sustain growth situation; At the same time the company as domestic platinum is the forerunner of the metal secondary resources integration, and research institutes, the future of the reform of successful example is expected to enjoy a national policy further support. Maintain company buying investment rating.
Risk factors: domestic liquidity contraction better than expected; Car sales fell sharply;MBT Goti Precious metals prices dropped sharply. (eastern securities institute Yang b f.effects)